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Sep 27, 2012
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here's alison kosik. hi, alison. >> hi there. today we're hemg you prepare for retirement and with me this hour, liz miller and greg mcbride. greg, this question is for you. >> i'm five to ten years from retirement. i have maybe 10% to 20% of my net worth slabl in cash. i'd like to invest and put it to better use but given the political and economic uncertainties, what would you suggest i do with the cash resources? >> and this is actually one of the questions this most of us ask but this gentleman is five to ten years from retirement. what to do? >> the money withdrawing from retirement, it's cash invest ms or high quality bonds. yes, the returns are low but doesn't have the ability to take a whole lot of risk because he needs the money so soon. money this he's going to earmark for withdrawal beyond that ten-year timeframe that can and should be invested for aggressively. >> do you agree with that? should be some risk. >> i think for the longer term and support the retirement, absolutely. there's very high quality stocks with ni
here's alison kosik. hi, alison. >> hi there. today we're hemg you prepare for retirement and with me this hour, liz miller and greg mcbride. greg, this question is for you. >> i'm five to ten years from retirement. i have maybe 10% to 20% of my net worth slabl in cash. i'd like to invest and put it to better use but given the political and economic uncertainties, what would you suggest i do with the cash resources? >> and this is actually one of the questions this most of us...
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Sep 18, 2012
09/12
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alison kosik, thank you. >>> speaking of investments, many of you are asking us questions. we have the help desk to answer them. here is poppy harlow. >> today on the help desk, we're focusing on investing in mutual funds. it affects a lot of folks. joining me to talk about it, donna rosatto and ryan mack. listen to this. >> what kind of mutual fund should i invest in? >> it is a broad question, but she's got a good point. there are so many out there. >> there are a lot of different mutual funds. the first thing is make sure you have a no load mutual funds, no commission mutual fund. >> fees. >> for every commission driven mutual fund, i can find you five that give you just as good of a return. make sure the performance measurement standards, that portfolio manager has been there for five years, has a good steady rate of return that -- >> they usually have a morning star rating on them or something. >> four or five stars. and last is the expense ratio. 1.5% or less. >> i can't emphasize that enough. expense is more important than anything else. studies by vanguard are that
alison kosik, thank you. >>> speaking of investments, many of you are asking us questions. we have the help desk to answer them. here is poppy harlow. >> today on the help desk, we're focusing on investing in mutual funds. it affects a lot of folks. joining me to talk about it, donna rosatto and ryan mack. listen to this. >> what kind of mutual fund should i invest in? >> it is a broad question, but she's got a good point. there are so many out there. >> there...
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Sep 20, 2012
09/12
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alison kosik at the new york stock exchan. and this number, 382,000, what's the story behind the number? >> exactly. you said it. there's a story behind the number. it's inflated because of hurricane katrina isaac. remember that? >> yep. >> louisiana and puerto rico with an increase of 8,000 claims and that's because businesses had to close because of the storm. mississippi also reported another 1,000 claims. but here's the thing with this. even if you discount the numbers, guess what, that level 382,000 level, still too high. we want to see it -- these total filings closer to 350,000 or under mark to show there's a real solid rebound in the labor market. you know what? we are not seeing it right now, brooke. >> what about the layoffs? we were reporting on the multiple thousand, what, 16,000 people to be laid off by bank of america by the end of the year. but that is not a new number per se. correct? >> right. the good thing is that these workers who are finding out right now kind of takes the guessing game out of this because
alison kosik at the new york stock exchan. and this number, 382,000, what's the story behind the number? >> exactly. you said it. there's a story behind the number. it's inflated because of hurricane katrina isaac. remember that? >> yep. >> louisiana and puerto rico with an increase of 8,000 claims and that's because businesses had to close because of the storm. mississippi also reported another 1,000 claims. but here's the thing with this. even if you discount the numbers,...
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Sep 27, 2012
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>> here's the other but, though, alison kosik. i can hear people scratching their heads and saying, fishy? this is suspicious. recalculating the numbers with 40 days to go. is there anything suspect here? >> that's a good question because everybody wants the know that. the timing is suspect. but from what we can tell there's no conspiracy here. this is really how the bureau of labor statistics operates. it goes ahead and revised the figures very frequently as it gets more and more information. in fact, these numbers could still be revised again in january. and you know this because when we come out with the jobs report every month there are often revisions to the previous month's so revisions are just sort of a name of the game coming to calculating how many jobs created in this country. >> alison kosik, thank you. if you want to read more, cnnmoney.com with a write on that. don't forget to catch the first presidential debate. denver, colorado. romney v. obama. right here on cnn. >>> overhauling health care coverage, two big compa
>> here's the other but, though, alison kosik. i can hear people scratching their heads and saying, fishy? this is suspicious. recalculating the numbers with 40 days to go. is there anything suspect here? >> that's a good question because everybody wants the know that. the timing is suspect. but from what we can tell there's no conspiracy here. this is really how the bureau of labor statistics operates. it goes ahead and revised the figures very frequently as it gets more and more...
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Sep 24, 2012
09/12
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that's something that gets lost because we like to talk about apple so much. >> alison kosik, alison, thank you. >>> maybe you're watching football last night, pretty much up unheard of, a coach grabbing a referee in protest of a call, that's the latest headache here involving these temporary referees in the nfl. well, get this, i'm about to speak live with a former nfl ref about whether this is ruining the integrity of a multibillion dollar industry. don't miss it. hey, i love your cereal there -- it's got that sweet honey taste. but no way it's 80 calories, right? no way, right? lady, i just drive the truck. right, there's no way right, right? have a nice day. [ male announcer ] 80 delicious calories. fiber one. ...and we inspected his brakes for free. -free is good. -free is very good. [ male announcer ] now get 50% off brake pads and shoes at meineke. >>> fist it was just football fans talking. now it seems like everyone is abuzz over these replacement referees instead of the regular officials. the two sides are locked in this labor dispute and last night it came to a head in the
that's something that gets lost because we like to talk about apple so much. >> alison kosik, alison, thank you. >>> maybe you're watching football last night, pretty much up unheard of, a coach grabbing a referee in protest of a call, that's the latest headache here involving these temporary referees in the nfl. well, get this, i'm about to speak live with a former nfl ref about whether this is ruining the integrity of a multibillion dollar industry. don't miss it. hey, i love...
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Sep 25, 2012
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alison kosik, thank you so much. >>> now i want to talk about a story, we talked about this yesterday, i heard you, read all your tweets, tweet during my two hours here. talking about the morning after pill in some new york schools it is being given to students. but today, we're talking to one parent who is pretty upset over this whole thing. find out what she is doing to take on city leaders. there's a health company that can help you stay that way. what's healthier than that? i i had pain in my abdomen...g. it just wouldn't go away. i was spotting, but i had already gone through menopause. these symptoms may be nothing... but they could be early warning signs of a gynecologic cancer, such as cervical, ovarian, or uterine cancer. feeling bloated for no reason. that's what i remember. seeing my doctor probably saved my life. warning signs are not the same for everyone. if you think something's wrong... see your doctor. ask about gynecologic cancer. and get the inside knowledge. >>> you know how we talk about there is no republican who has ever gone on to win the race for the white hou
alison kosik, thank you so much. >>> now i want to talk about a story, we talked about this yesterday, i heard you, read all your tweets, tweet during my two hours here. talking about the morning after pill in some new york schools it is being given to students. but today, we're talking to one parent who is pretty upset over this whole thing. find out what she is doing to take on city leaders. there's a health company that can help you stay that way. what's healthier than that? i i had...
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Sep 19, 2012
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there she is, alison kosik, at the new york stock exchange for us. alison, put this in perspective. what's happening here? >> reporter: it's just another sign that the housing market, brooke, is really turning a corner at this point. the national association of realtors says part of the reason is what they're seeing is more buyers are taking advantage of lower prices for houses right now. even though prices have been slowly climbing, they're still pretty cheap because of the big hit we took during the recession. plus the mortgage rates are still near record lows. the current 30-year fixed is just at 3.5%. and guess what? they're expected to go even lower. that's because of the federal reserve's announcement last week that it would buy up $40 billion a month in mortgage backed securities. so that makes buying very attractive. there's also a lot of this pent-up demand that's been accumulating since the recession started. a lot of people have been waiting to get out of their homes and now they feel pretty confident or a little more confident about doing it. brooke. >> here's the questi
there she is, alison kosik, at the new york stock exchange for us. alison, put this in perspective. what's happening here? >> reporter: it's just another sign that the housing market, brooke, is really turning a corner at this point. the national association of realtors says part of the reason is what they're seeing is more buyers are taking advantage of lower prices for houses right now. even though prices have been slowly climbing, they're still pretty cheap because of the big hit we...
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Sep 27, 2012
09/12
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here's alison kosik. hi, alison. >> hi there. today we're hemg you prepare for retirement and with me this hour, liz miller and greg mcbride. greg, this question is for you. >> i'm five to ten years from retirement. i have maybe 10% to 20% of my net worth slabl in cash. i'd like to invest and put it to better use but given the political and economic uncertainties, what would you suggest i do with the cash resources? s >> and this mostf us ive to ten years2m to rewithdrawing from invest ms or high quality bonds. yes, the low but needs the money so soon. earmark for withdrawal beyond that ten-year aggressively. >> do you agreehink for thehelongererm retirement, absolutely. there's very high quality stocks with ext five to ten years to be ready for retirement and liquidity. i would keep that on the radar, as well. >> okay. all right. if you have an issue for the experts to tackle upload a video with the question to ireport.com. >>> all right. football fans rejoice. the pros, the real nfl referees, back on the job. at least for now.
here's alison kosik. hi, alison. >> hi there. today we're hemg you prepare for retirement and with me this hour, liz miller and greg mcbride. greg, this question is for you. >> i'm five to ten years from retirement. i have maybe 10% to 20% of my net worth slabl in cash. i'd like to invest and put it to better use but given the political and economic uncertainties, what would you suggest i do with the cash resources? s >> and this mostf us ive to ten years2m to rewithdrawing...
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Sep 27, 2012
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alison kosik joining us from the sneyock exchange. on, alisw muchf this in the family budget? >> i'm soithoith this just the smart phone itself is expensive. then you get those eye-popping bills every month. one government figure estimates theaverageousehold shelled out more than $1200 on phone services. that also includes we know people are ping ls for land lines, many people don't have them. it'sot hardto figure out whe the increase is comi from. if you want to break it down even mo6 more a year on phone services compared to00 j.d. powers say average person's cell phone bill is about $71 a but if you're a family of four and you all have phones, that total can easily top $200. what's happening here, suzann over the past few years because we're budgeting for our srt phones, we're spending less on dining out, on clothing and tertainmbeusour phones meanverything to us. >> so our phone bills are blg up abe we're saving money on going out and ay seeing peo >> yes.he phone bill? ishere y way to that down a little bit? some of our have a few ideas. they say start withheki, phone pla
alison kosik joining us from the sneyock exchange. on, alisw muchf this in the family budget? >> i'm soithoith this just the smart phone itself is expensive. then you get those eye-popping bills every month. one government figure estimates theaverageousehold shelled out more than $1200 on phone services. that also includes we know people are ping ls for land lines, many people don't have them. it'sot hardto figure out whe the increase is comi from. if you want to break it down even mo6...
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Sep 6, 2012
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alison kosik, appreciate it. and thou joining us is one of the most influential people this the obama administration, and she is here at the grill to talk to us up next. ♪ ♪ [ male announcer ] at&t. the nation's largest 4g network. covering 2,000 more 4g cities and towns than verizon. at&t. rethink possible. exclusive to the military, and commitment is not limited to one's military oath. the same set of values that drive our nation's military are the ones we used to build usaa bank. with our award winning apps that allow you to transfer funds, pay bills or manage your finances anywhere, anytime. so that wherever your duty takes you, usaa bank goes with you. visit us online to learn what makes our bank so different. >>> besides michelle obama, the chair is the most influential woman that the white house is listen listening to and "the new york times" article calls her the other power. good to see you valerie. >> well, it is so good to see you on the third and the final day of of the convention. >> at love oent
alison kosik, appreciate it. and thou joining us is one of the most influential people this the obama administration, and she is here at the grill to talk to us up next. ♪ ♪ [ male announcer ] at&t. the nation's largest 4g network. covering 2,000 more 4g cities and towns than verizon. at&t. rethink possible. exclusive to the military, and commitment is not limited to one's military oath. the same set of values that drive our nation's military are the ones we used to build usaa bank....
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Sep 24, 2012
09/12
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alison kosik live at the new york stock exchange. allison, why? what's behind the drop? >> well, you know what, it shows you the power of the media. over the weekend there was an article in the publication "barons" that said facebook stock price is over priced and should be closer to $15 a share. right now facebook shares are at $20.96. so what happened, well, trades on the nasdaq, it started tumbling. it tumbled at least 10% today. it tripped circuit breakers at the nasdaq and those circuit breakers are tripped to keep the stock from falling any more. the stock's come back a bit, it is now down about 8.3%. some traders are surprised by the tumble because the article didn't say anything new that they already didn't know that facebook, you know, has already faced a lot of criticism about not having a clear growth strategy. most of us access facebook on our tablets and on mobile devices and should facebook going to monetize this, how is facebook going to make money off its mobile users with advertising. that's nothing new. for some reason, this article over the weekend cer
alison kosik live at the new york stock exchange. allison, why? what's behind the drop? >> well, you know what, it shows you the power of the media. over the weekend there was an article in the publication "barons" that said facebook stock price is over priced and should be closer to $15 a share. right now facebook shares are at $20.96. so what happened, well, trades on the nasdaq, it started tumbling. it tumbled at least 10% today. it tripped circuit breakers at the nasdaq and...
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Sep 19, 2012
09/12
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alison kosik is at the new york stock exchange for me. what is going on? >> reporter: okay, we talk about housing, it is not stuck in the mud like the jobs market is. when we talk about the housing sector, there are a couple of things going on here. we see bright spots, the national association of realtors is saying more buyers are taking advantage of lower prices for houses right now. even though prices have been slowly climbing, they're still pretty darn cheap because of the big hit we took during the recession. mortgage rates are still near record lows as well. the current 30-year fixed is sitting at 3.5%. and those mortgage rates are expected to go even lower. that's because of the federal reserve's announcement last week that it would buy up $40 billion a month in mortgage-backed securities. what all this stuff does, it makes buying a house very attractive. and, you know, national association of realtors says, you know what, there is a lot of pent up demand accumulating since the recession started, a lot of people have been holding out about moving an
alison kosik is at the new york stock exchange for me. what is going on? >> reporter: okay, we talk about housing, it is not stuck in the mud like the jobs market is. when we talk about the housing sector, there are a couple of things going on here. we see bright spots, the national association of realtors is saying more buyers are taking advantage of lower prices for houses right now. even though prices have been slowly climbing, they're still pretty darn cheap because of the big hit we...
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Sep 25, 2012
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alison kosik is at the new york stock exchange to explain it for us. and, so what was the company doing that got them in trouble? >> well, deb, investigators found that discover's telemarketers made people think that they were getting certain products for free, when they weren't. these are -- for these add-ones, you can buy when you open a credit card like identity theft protection, credit card score tracking. the consumer financial protection bureau and fdic did this investigation and what they did was listened to a bunch of recorded sales calls and what they said was they discovered that the reps there spoke unusually fast when they were explaining the cost and the product terms to these customers. they also say that the telemarketing scripts implied consumers wouldn't be charged when there was a fee attached. the reps even processed these add-ones and charged customers money when they didn't agree to them in the first place. what discover says it will do, they say they will stop the deceptive sales tactics, they'll pay regulators on top of the custo
alison kosik is at the new york stock exchange to explain it for us. and, so what was the company doing that got them in trouble? >> well, deb, investigators found that discover's telemarketers made people think that they were getting certain products for free, when they weren't. these are -- for these add-ones, you can buy when you open a credit card like identity theft protection, credit card score tracking. the consumer financial protection bureau and fdic did this investigation and...
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Sep 21, 2012
09/12
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alison kosik is at our help desk. >> here on the help desk, we're talking about paying down debt before retirement. with me this hour, liz miller and greg mcbride. greg, listen to this question. >> when you retire, should you get rid of credit card debt or is it okay to have some? >> we all carry credit card debt. come on. >> get rid of the credit card debt regardless of your age. it is very high cost debt. now, don't fall for the misperception that you have to carry debt in order to maintain a credit score. i think it is important that you get rid of that debt, but continue to use the credit card for a token purchase every month or so, pay the balance in full, just so you can maintain a high credit score. don't carry any credit card debt. >> that's a great idea, right? >> i agree completely. has nothing to do with age. the fact that you're retiring isn't going to change that. spending habits shouldn't change that dramatically and if you used a credit card responsely before, keep doing it. your credit score can come from a lot of different sources. i talk to people about one of the best
alison kosik is at our help desk. >> here on the help desk, we're talking about paying down debt before retirement. with me this hour, liz miller and greg mcbride. greg, listen to this question. >> when you retire, should you get rid of credit card debt or is it okay to have some? >> we all carry credit card debt. come on. >> get rid of the credit card debt regardless of your age. it is very high cost debt. now, don't fall for the misperception that you have to carry...
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Sep 20, 2012
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alison kosik, turning to you as always to sort through the god and the bad. what's the story behind the jobless benefits? >> we learned that first-time claims for unemployment claims, brooke, dipped by 3,000 to 382,000 and sure, you know, any decline in the number of people laid off is a good thing but we want to see the level of filings closer to the 350,000 or under mark to really signaling we have a solid rebound in the labor market. it's frustrating is that there had been that sign back in july but the problem is those claims numbers have slowly been going back up lately and we find out every month that employers not hiring on a large scale but i want to give you a caveat in the reading and that's partly the number that you saw of claims. it was partly inflated with hurricane isaac. several states impacted by the hurricane had to close their businesses and 8,000 claims but the problem is if you discount the number of claims filed because of the businesses closing and the storm the level, yeah, the level is still too high, brooke. >> and then you wake up.
alison kosik, turning to you as always to sort through the god and the bad. what's the story behind the jobless benefits? >> we learned that first-time claims for unemployment claims, brooke, dipped by 3,000 to 382,000 and sure, you know, any decline in the number of people laid off is a good thing but we want to see the level of filings closer to the 350,000 or under mark to really signaling we have a solid rebound in the labor market. it's frustrating is that there had been that sign...
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alison kosik, this is good news. >> yeah, the market skyrocketing. the dow up. the numbers you mention show there's a bit of improvement where jobs is concerned. there are fewer layoffs. now we want to see a trend-lower. we're getting a preview to the monthly unemployment picture. adp says private employers added 201,000 jobs in august. that came in much better than expected. brooke. >> we're of course getting the big august jobs numbers tomorrow. so we'll talk about that tomorrow. it's a huge political ramifications there. but let's talk about this magic number perhaps. 316,000, what does that number signify? >> that number is really where we need to get to 316,000 jobs before the election. that means we need to average 105,000 jobs added in each of the next three months. now, this year we're averaging around 150,000. so believe it or not it is doable. but both campaigns are going to spin it the way they want it. if we get a great number tomorrow, if we get a bad number, they're going to spin it in whatever favor they want. but it is possible for us to sort of
alison kosik, this is good news. >> yeah, the market skyrocketing. the dow up. the numbers you mention show there's a bit of improvement where jobs is concerned. there are fewer layoffs. now we want to see a trend-lower. we're getting a preview to the monthly unemployment picture. adp says private employers added 201,000 jobs in august. that came in much better than expected. brooke. >> we're of course getting the big august jobs numbers tomorrow. so we'll talk about that tomorrow....
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Sep 28, 2012
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alison kosik is at the new york stock exchange. alison, a lot of banks involved there. how did this happen? >> well, first of all, i want to point out no customer information was hacked into. there was no money taken. what instead happened here was more of these denial of service attacks. what these essentially do, they make it really difficult to get on to these banks' websites. there is no actual hacking going on. so no data was stolen and the banks' actual transaction networks were not affected. but these attacks can be annoying if you want to get on your bank's website and check your balance or pay your bills. it slows them down and many customers couldn't access them at all. >> do we know who is behind these attacks? >> we don't. and investigators are trying to track down who is responsible. one islamist group claimed responsibility but too soon to say whether they really did this. these attacks suggest there is a lot of preplanning involved, months in fact, which is very different from what we have seen in the past. bank of america, jpmorgan chase, wells fargo, u.
alison kosik is at the new york stock exchange. alison, a lot of banks involved there. how did this happen? >> well, first of all, i want to point out no customer information was hacked into. there was no money taken. what instead happened here was more of these denial of service attacks. what these essentially do, they make it really difficult to get on to these banks' websites. there is no actual hacking going on. so no data was stolen and the banks' actual transaction networks were not...
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. >> let's fwauk thtalk about thi alison kosik. the median income in the u.s. is just over $50,000. back to mitt romney, is he technically correct? >> okay, here's the thing with this, brooke. there is no textbook definition of what the middle class is. you know what it is, it is more of a feeling. that's why there is so much wiggle room with this. if you look at households sitting in the middle of income distribution, those in the 40th to 50th percentile, they'at's o way to define the middle class. only 5% of households make $186,000 or more. but however you define the middle class, brooke, it is getting smaller. there is a recent study that found that just one third of americans now consider themselves part of the lower class. of the middle class, rather. four years ago, it was bigger, a quarter of the population. >> it needs to be pointed out, though, this number, $250,000, we heard it before, because president obama is calling for extending the current tax cuts, so-called bush tax cut for income below that $250,000 mark for families. and $200,000 for individuals. by making those
. >> let's fwauk thtalk about thi alison kosik. the median income in the u.s. is just over $50,000. back to mitt romney, is he technically correct? >> okay, here's the thing with this, brooke. there is no textbook definition of what the middle class is. you know what it is, it is more of a feeling. that's why there is so much wiggle room with this. if you look at households sitting in the middle of income distribution, those in the 40th to 50th percentile, they'at's o way to define...
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Sep 19, 2012
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alison kosik, thank you so much. huge thank you to all of you for watching each and every day here. if you want to see a story or interview that you missed, go to cnn.com/brooke. now to wolf blitzer, "the situation room" begins now. >>> brooke, thanks very much. happening now, mitt romney goes all-in instead of backing away remarks from democrats and even some republicans feel was a major mistake. accusing president obama of making americans dependent on government. also, giving a chance to hit back. president obama holds his fire. we're digging into what his strategy might be. and just off the assembly line our brand new poll from one of the states that potentially could decide the presidential election. john king is on the ground in michigan with the latest numbers. i'm wolf blitzer, you're in "the situation room." >>> we begin with the brand new counteroffensive mitt romney's launching only 48 days before the presidential election. instead of trying to explain away his secretly videotaped complaint that the 47% of u.s. voters who support president obama are dependent on governmen
alison kosik, thank you so much. huge thank you to all of you for watching each and every day here. if you want to see a story or interview that you missed, go to cnn.com/brooke. now to wolf blitzer, "the situation room" begins now. >>> brooke, thanks very much. happening now, mitt romney goes all-in instead of backing away remarks from democrats and even some republicans feel was a major mistake. accusing president obama of making americans dependent on government. also,...